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Flare Network is emerging as a pivotal player in expanding XRP’s DeFi capabilities. According to a June 17 report by crypto research firm Messari, Flare serves as “core infrastructure for the XRPFi ecosystem,” transforming XRP—traditionally limited in smart contract utility—into a key DeFi asset.
Built as a Layer 1 blockchain, Flare connects non-smart-contract assets like XRP to decentralized finance. Its architecture includes the Flare Time Series Oracle (FTSO) for decentralized data feeds, the Flare Data Connector (FDC) for cross-chain data validation, and the FAssets protocol, which enables XRP to be wrapped into FXRP for DeFi use.
FXRP is pegged 1:1 with XRP and can be used for lending, liquidity farming, and yield generation without intermediaries. It operates under a robust triple-collateral system: 1x XRP, 1.5x FLR tokens, and 1.2x stablecoins, ensuring over 2x total collateral to guard against volatility.
Testing on Flare’s Songbird testnet saw the $2 million FXRP issuance cap reached in just four days. The mainnet launch is currently being prepared, with added focus on security and system stability.
Flare has also seen rapid growth in liquidity, fueled by the launch of stablecoin USD₮0, which helped Total Value Locked (TVL) jump from $37.1 million to $148.8 million in under two weeks. USD₮0 now makes up over 63% of Flare’s stablecoin liquidity, alongside USDC and USDX.
Institutional adoption is on the rise. Uphold, holding over 1.8 billion XRP, plans to engage with FAssets, while Nasdaq-listed VivoPower is deploying $100 million in XRP on Flare. A liquid staking protocol, Firelight, will soon launch, enabling stXRP—ERC-20 tokens backed by FXRP—for further DeFi integration and rewards.
Flare is redefining XRP’s role in decentralized finance.
